The market has been tanking lately, but the price is a bargain. Looking at UDOW
which is a 3 X leveraged ETF
of the Dow Jones, It is showing signs of oversold. The RSI
is below 30, Price is riding the lower Bollinger Band
and has even dropped below the band into oversold territory. The Market seems to be strong with positive earnings
but buyers are gone. Price is presently holding near the 200 Day EMA
making this a support level
and a good buying opportunity. If price returns to its highs, this will present a 40% return on investment. I've read that this correction could put us out for 4 months until we see our record highs again. 4 month for 40%. Please feel free to comment. If im being dumb call me on it.